According to the current liquidation map, short positions are being liquidated gradually. Based on the current Bitcoin price around $119,500, if the market fluctuates up and down by $2,000, and rises again to around $121,500, it is estimated that the cumulative amount of liquidated shorts will be about $960 million. Conversely, if the market drops to around $117,500, it is estimated that the cumulative amount of liquidated longs will be about $534 million.
The market direction is bullish. From the current market trend, the daily chart is overall still in a bullish sideways consolidation. The overall market sentiment is still in a state of greed, and with the favorable news coming for Ethereum's 10th anniversary, I believe Ethereum will have another wave of increase, and altcoins will also continue to rebound. Therefore, the strategy remains to buy the dips.
At the same time, with the end of the month approaching, there are many news items, such as the US-China negotiations, the US interest rate decision, and Trump's reciprocal tariffs, all of which are important news that could impact the market trend and require everyone's close attention.
Invest in 3 altcoins with future growth potential of 10 times!
1.JUP
Jupiter (JUP) has maintained a steady upward trend in recent days, rising 2.89% in the past 24 hours, with trading volume soaring over 75%. JUP's market cap is approximately $1.72 billion, steadily consolidating its position in the Solana DeFi space. The RSI is currently hovering between 56 and 57, in a neutral zone, indicating there is still room for growth. Meanwhile, the MACD histogram shows slight upward momentum, enhancing short-term bullish sentiment.
The rise of JUP is attributed to the progress of JLP Loans. This system allows users to borrow using JLP tokens as collateral without being forced to sell their holdings. Jupiter recently injected $150 million USDC into this system, making headlines in DeFi media. This move showcases confidence in the platform and enhances the practical utility of JUP.
In addition, Jupiter's second-quarter report revealed strong data: a transaction volume of $142 billion and over 8 million active wallets. Jupiter Lend is expected to launch in the third quarter, and the utility of JUP is anticipated to deepen further within the Solana ecosystem.
Even so, investors should still pay attention to the unlocking plan for 28.5 million JUP (1.78% of the total supply) starting on July 28. The unlocking may bring temporary selling pressure. Whether this will affect the current bullish pattern depends on whether JUP's continuously growing product ecosystem (such as Jupnet and Lend) can outpace supply inflation.
2.W
Wormhole (W) continues to attract the attention of institutional investors and is expected to achieve wider application through physical collaborations. One of the recent key developments is Centrifuge migrating to Ethereum via Wormhole, reflecting the growing demand for cross-chain applications.
Notably, JPMorgan and Wormhole were mentioned together in discussions about asset management, and this collaboration is seen as a step towards safer and more efficient cross-chain tools. Projects like Franklin Templeton's BENJI and Hamilton Lane's fund have also chosen Wormhole, indicating an increasing level of trust from institutions in this protocol.
From a technical perspective, W's trading price is above its 30-day simple moving average, currently around $0.0786, with a price of $0.0864. This supports a moderate bullish sentiment. However, the MACD histogram remains negative, indicating that a decisive trend has yet to form. The RSI is at a neutral level, around 53, while the Fibonacci resistance level is at $0.0937. A pivot point near $0.0846 is currently holding as a support level, helping to build short-term bullish signals.
Despite solid fundamentals, the altcoin quarterly index (currently at 44) and weak derivative activity (open interest down 2.66%) indicate that retail participation is still low. The long-term outlook for Wormhole may depend on its ability to continue developing its multi-chain roadmap and expanding DAO participation.
If the platform can maintain the current pace of institutional adoption and launch new cross-chain tools with high utility, it could bring significant upward surprises to the market later in this quarter.
3.SEI
Sei (SEI) has shown resilience in a volatile market, with recent developments indicating its utility is continuously increasing, and network activity is becoming more vibrant. Although the current altcoin quarterly index is 42, indicating a slight strengthening in the altcoin market, SEI outperforms several of its peers due to its focus on technological improvement and regulatory recognition.
Analyst Ali Martinez pointed out that SEI's stock price is currently above the 10-day simple moving average within a downward channel. If the stock holds this support level, it could reach a target price near $0.49. As of the time of writing, the RSI index is approximately 57.94, showing strength but not in the overbought zone. The MACD histogram is still negative, but the price trend is supported by the 7-day and 30-day moving averages. Additionally, the Fibonacci level of $0.356 is a resistance level that SEI's stock price may test in the near future.
In terms of application, SEI leads all public chains with over 3.24 million active addresses, surpassing Ethereum and Bitcoin. This surge in activity could translate into higher total value locked, especially after the recent launch of WYST. SEI has also gained attention for its appearance at Coinfest Asia 2025 and being selected as a pilot project for a stablecoin in Wyoming, indicating its growing credibility in institutional and regulatory realms.
SEI's collaboration with Circle to integrate USDC has further enhanced its visibility, while its compatibility with the Ethereum Virtual Machine has boosted its attractiveness. If the positive market sentiment continues to heat up after Coinfest, and the platform can maintain its active user base, SEI may achieve breakthrough development. With so many factors working together, SEI is likely to become the next explosive growth cryptocurrency.
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